Qatar’s state-owned sulphur producer and marketer, Muntajat/Qatar Energy, has increased the Qatar Sulphur Price (QSP) for September to $125/t FOB Ras Laffan/Mesaieed. This represents a $19/t rise from the August QSP of $106/t FOB, following an uptick in spot market prices. Recent spot tenders from Qatar and Kuwait received multiple bids in the $120s/t FOB range from trading firms.
This latest increase follows a $25/t jump from July to August, reflecting stronger phosphate fertilizer prices and restricted supply from key producers. The September pricing suggests delivered prices to China in the range of $151-157/t CFR, based on freight rates last assessed on 22 August.
However, with China CFR assessments at $134-139/t CFR as of 22 August, the delivered prices from the previous round of transactions were below this implied range, as buyers remained cautious, opting to wait for clearer signals on fertilizer export trends before committing to additional raw material purchases.